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Michigan 30, California 16, Napolitano 13, Us 13, Lansing 9, The Union 8, North Carolina 8, Ho 7, France 6, Varney 5, Arizona 5, Scottsdale 5, America 5, Geico 4, Advair 4, U.s. 4, Detroit 4, Belgium 4, China 4, Gerard Depardieu 3,
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  FOX Business    Varney Company    News/Business.  
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    December 11, 2012
    9:20 - 11:00am EST  

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♪ then i, i, i'm dreaming of a white christmas ♪ ♪ with every christmas card i write ♪ ♪ may your day, may your day, may your day be merry and bright ♪ ♪ and may all your christmases be white ♪ ♪ imus in the morning ♪ >> you are about to see a test of the power of unions. there's going to be a big fight today in michigan and we're there. good morning, everyone, governor snyder is about to sign legislation that makes michigan
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the 24 right to work state. the unions want to stop it. they're out in force at the capital. it could get ugly. gas prices are tumbling in st. louis. listen to this, at 3.32 a gallon nationwide the price is still the highest ever for this time in december. california, a national carbon tax could be on the the way, they've got one already, how is that working out? and china may be the number one economy soon. really? "varney & company" about to begin.
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>> right off the top, breaking news for you now. fox business learned that a group claimed to be aligned with terrorism is threatening to launch a massive attack against u.s. bank websites and made that threat in the fall and this is a new threat set to start this week, we hear. and a list of banks targeted includes j.p. morgan chase, bank of america, u.s. bancorp, pnc financial services and suntrust
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banks. more details when we've got them. the power and might of unions on display today and being tested. you will see huge protests at the state capital building in michigan where right to work legislation will be signed today. that means workers will be able to choose if they want to join the union. they will no longer be compelled to pay dues. here is the president speaking at a daimler factory in michigan yesterday. >> we do everything we can to encourage companies like daimler to keep investing in american workers. and by the way, what we shouldn't do, i just got, what we shouldn't be doing is trying to take away your rights to bargain for better wages. stuart: and take away your rights to bargain. is that what's at stake here? is collective bargaining a right? these are obvious questions, we'll be on it through the program and our cameras are right at the action in lansing, michigan. we're also talking to the mayor
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of lansing, virg bernaro next hour. and remember the chrysler workers smoking and drinking during the lunch break? two suspended and they got their jobs back. that was an arbitrator's ruling. under the union contract they were on their own time. chrysler says it disagrees with the decision, can't change it, that's the example of the union's power. and tell us what you think about the workers getting their jobs back. and we'll read some on the air. more fantasy island in california, coming up after the break, why california's green energy policies just don't work and we're also going to bring you the opening bell and we've got more companies issuing special dividends before the end of the year. including the one that runs victoria's secrets.
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every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive colleion of innotis that totally individualize your sleep. perfectly comfortable pillows that adjust to your size and shap temperature-balancing bedding. dual warmth comforters. all designed around the sleep number bed: a bed
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with dual-air technology that allows you to adjust to the support your body needs. each of your bodies. in the name of human individuality:he sleep number collection. discover how our sleep professionals n individualize your sleep experience. exclusively at one of our 400 sleep number stores nationwide. sleep number. comfort individualized. this holiday season, give the gift that's magical: the innovative airfit adjustable pillow at special 30% savings. >> the dow industrials are closed yesterday. at 13,169. there's been a modest few days of gains i should say. this morning, we're expecting more of the same. a small gain for the dow industrials when trading begins. now, what's behind the modest increase for the dow. it's probably that maybe some
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discussions have been taking place, behind the scenes, in private. over this fiscal cliff. there's all kinds of whispers maybe a deal is in the offing. and people are arguing about it in public, and saying that the powers that be. the president and speaker, they're not saying much about it, they may be, well, talking privately about this. that's what's given some sense of optimism, that a deal may be forth coming. we don't know that, but that's the whisper amongst stock traders,therefore, a modest gain in the stock price, you're about to see that. when he the dow gets up and running, you should see a gain of what, i'm guessing 20 or 30 points, it should be another fairly flat opening with a small positive bias. the best way of putting it. and the dow industrials are opening 10 points higher, just shy of 13,200. and you can also add limited brands and that of course is the parent company of victoria's
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secret and bath and body work and add them to the growing lisp companies that are declaring a special dividend. pay it this year and avoid the big attack next year. this time it's $3 a share at the limited and it's going to be paid the day after christmas day, and nicole, is the stock up on that news? >> it sure is. this is the parent of victoria's secret, limited brands joining a slew of two other companies give or take that are beating up and accelerating their dividend payouts and special dividends in order to get shareholder value. it almost feels like your company didn't do something for you, it would be clamoring at this point. >> you know, i am. everybody knows i've got stock in microsoft. it's not done well this year, it's done a ton of cash on the side line and 50 billion dollars. yeah, i think that shareholders are indeed clamoring for some action before the end of the year. >> and yet, you still want your surface tablet for christmas. you're still loyal.
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none of my children were watching the show yesterday so they don't know and maybe watching now because they do know. thanks very much indeed. the dow industrials are opening as expected we're up 37 points. by the way, delta did buy 49% of virgin. they want to get the slot at heathrow airport and delta airlines is up on that. and next case, tim geithner's tenure as treasury secretary is winding down and treasury is selling its shares of aig. and the taxpayer is now out of what was the single biggest beneficiary of the wall street bailout and a profit is expected. american group, aig now at $34 a share. and california has put in place its own carbon tax, called cap and trade in the formerly golden state. if a carbon tax is introduced
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would residents be double taxed? california officials have started discussing the prospect, hey, d.c. don't step on us. i've got more green energy news out of california. listen to this, energy companies must get one third of renewable sources by 2020, that's the mandate. there are unintended consequences, fewer jobs and less tax revenue we hear. and mark, i want you to spell it out. how is the state going to lose tax revenue because of the c carbon tax they've introduced. >> first of all, they think they'll be double-downed on the carton tax on emissions as mentioned the jobs in california haven't materialized. jerry brown said heewould create 500,000 new green jobs the next ten years, so far it's roughly been about 3,000 per year and at
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that rate jerry willful fill the promise in let's say 167 years. stuart: 3000 green energy jobs per year, that's all california has got. that's a very low number and one of the problems, they're investigating the money and i think the state of california said last year, 59 million went into green jobs and training and apprenticeships and 719 jobs actually placed and that's an investment for the taxpayer roughly $83,000 per job and doesn't seem like a good roi to me. >> do the jobs go away? and once you've installed so already panels. once you've installed them, i guess, that green job, basically goes away, doesn't it? >> it's the equivalent of being the maytag repairman for green energy. once you've installed them they are he' expected to last, 20 or 30 years, and you talked about unintended consequences and i think that the overestimates on this are telling california we
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may be too green to fail. stuart: now, what about this mandate? the energy companies, they must get one third of their energy from renewable sources? i guess that's hydro electric, wind and solar, you've got to get a third from those green energy sources from the year 2020, and that seems like an awful lot of power to come from the sun and wind and can you make it? >> i don't think so. because part of the dirty little secret behind all of this, stuart, is that mother nature has really interesting way of deciding when she's going to provide sun, when they're going to provide the wind and because of that, all of these major power plants are supposed to give these utilities the mandated 33% by 2020. also, have to have a companion fossil fuel plan that has the turbines ready, if a cloud bank moves over the mojave desert or over the mountains they don't interrupt the power grid. when the green energy demand
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increases so does the demand for fossil fuel. what happens if they can't meet the mandate and get renewables by 2020? >> i think they're doubling down on top of this. jerry brown was quoted with fanaticism. there will be screwups, and debt, and we'll scene going and nothing will stop us. if the governor brown had used the same rhetoric about nuclear power, van jones head would explode. stuart: and highly unlikely that the governor would talk about that about nuclear power. are you prepared to leave california? >> no, no, i told you before, stuart, i'm in for the fight. what we have to do is we have to bring light the troop behind green energy and tell folks, it's not the investment they think it's going to be, that nothing is free, there's always unintended cost behind it, if we can be reasonable about this and kind of back off some of these, these promises, or mandates that we made. my fear is though, that the
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senate democrats are going to end up using the super majority power and not only mandating the utilities, have that 33% rate, but a lot of corporations getting tax breaks from the state of california will also have to comply with getting 33% of their power from alternative energy by the year 2020. >> you think that might happen. i mean. >> right, yeah. >> that's just a prediction, that's all. >> okay. and there's no such legislation before sacramento's legislature at this moment? >> no, if any of the democrats in the legislature are watching right now, and please just, that's a fantasy on my part, please don't take that seriously. stuart: green energy is kind after religion in california isn't it? i don't know whether i'm going too far on this, but i've just got a-- >> you're absolutely right. but the interesting thing about it, the biggest impediment to a lot of the major solar plants aren't coming from the utilities. we've gotten dangered species like the leopard lizards that
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need to be protected and filing suit against the corporations trying to build the solar plants and trying to make the mandate by 2020. >> without a doubt the snub-nosed leopard lizard. >> i'm not kidding. stuart: i thought you were going to say the unicorn. >> we have plenty in california. stuart: we only protect the pink ones. and the biggest economy according to the u.s. based national intelligence council. xhoo china will pass the u.s. by 2030, biggest in population, size and military spending. now you know. new at 10 we'll take you live to the michigan, the capitol there, and trying to prevent them to entering the state legislature. the protests is expected to get
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heated and a live look getting heated, a live report, another one at the top of the hour. what are they up to. the retailers urban outfitters drumming up some, i'm going to call it negative publicity with its profanity, obscenity-laced stocking stuffers, including a $18 expleat tiff reminiscent book and-- just look at it. but the stock is moving up. >> a couple of thoughts i have pertaining to urban outfitters. number one, let's talk about the sales, comp sales year over year for the fourth quarter are looking pretty good, they're coming in in the high digits, single digits for net sales which is better than expected. so they're projecting that the current quarter is going to be better than expected. so that's good news and enough to give them a 5 1/2% move to the upside. it's certainly not for those,
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those photo albums. they have so many things in there that have the f-word on them, stuart. i don't know if you've ever been to urban outfitters. it's ecclectic and have funky stuff and some of it's cool and some is over the top. if i go in there with my children, i'll try to rush them through certain areas and sexually charged things in there. and here is the clincher. that particular album is in the category going to the home. you know, it's one thing if you enter the store and you're making a choice going in there, but it's another when it arrives at your home. stuart: nicole, we'll have more on this subject. thanks very much indeed. time is money. 30 seconds, here is what else we've got for you. starting off with north carolina. and license plate choose life unless it sell pro choice plates, too. that's a judge's ruling. what will our judge say? question, is now the time to buy real estate. we'll talk to one investor who
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is buying a lot and he will he' show us where exactly he's putting his money and we'll show you actual properties and the price. we're in the holiday spirit here, we've been listening to lots of christmas music. which do you prefer, the old classics or the new versions by today's popular artists. we'll be covering that one, too. all right, it's what day is it? it's tuesday, we've got tuesday morning, early movers, by the way, the dow is up 61 now. i've got the early movers, here we go now. dollar general posted higher outlook and the stock is down. rumblings of carl icon, rumblings, buying up shares of hp. home health care provider, almost family. declared a special dividend $2 per share, it's up. and hearst says the three biggest stock holders are selling 50 million areas, market doesn't like that. and lower profit at convenience chain casey's general store. lower profits? who cares, it's up 2 bucks. and drawing maker gilead
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sciences, not much movement. victoria's secret. limited brands unveiled the special $3 a share payable after christmas. the stock is up. dow industrials, and c.d.c. says it's going to be a bad flu season. dr. marc siegel after the break will try to convince me to get a flu shot. good luck. ♪ to say merry christmas to you ♪ >> who is singing this? that's don ho? >> the thing to say on a bright hawaiian christmas day >> there bing crosby. don hoe, you made me say that on the air producer, i'm shocked. [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have oning webinars and interactive learning, plus, in-branch seminars at over 500 cations,
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>> what you're seeing now is live from michigan.
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pro union demonstrators know front of the state capitol in lansing, and right to work legislation expected to become law there today, some threats that the demonstrators would try to bring lawmakers into the capital and right now inside the rotunda of the capitol building. instead of the rotunda and there's a suggestion that this could get ugly. it's pretty noisy as of right now. we're going to keep going back. >> and we're now up 57 points and the dow above 13,200. the regular 3.32 and diesel 3.97. flu season earlier than normal and stronger we're told. joining us now is dr. marc siegel the medical a-team. doctor, why is it that every year, just for the past four, five, six years, we're told, oh,
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you really ought to get a flu shot. i've never heard of that before. >> you should have a flu shot, stuart. if i thought i could talk you into it i would have brought one with me and given it to you on the show. stuart: how much? >> i would give it for free. how much other people. >> 25 bucks, but if you go to the pharmacy, sometimes paid. >> at the end of the year 42% of americans will have a flu shot according to the c.d.c. we need more. stuart: why? >> to create something called herd immunity. we have to protect the herd stuart. if you go on the subway and brush against a pregnant woman, i want her covered and don't you to bringing the flu virus and transmitting it with children with asthma and-- >> somewhere, mo. stuart:? >> as you get out of the limo, you could pass a pregnant woman
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on the street. stuart: you're part of a raquet and trying to convince us we need a flu shot. 20 years ago, nobody did that. ten years ago, nobody did that. are' trying to suck me into the medical milieu where i feel obligated to pay my money and get my shot every year. >> stuart, you're not completely wrong. stuart: thank you. >> if i take you back to 2009, with the swine flu hype, the world health organization was involved in this whole racket of getting flu shots around the world and it's a money, money game. and something i disagree with you on. in 2003 we had a similar strain that we had this year and now what? 48,000 people in the united states died of flu related illness that year. this year, we have a very good match on the flu shot. they didn't have a good match that year. this year, we do. so, the more people who get vaccinated this year, an early flu season, aggressive flu season as you said, it's getting
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widespread already. the shot works this year, the more people that get vaccinated, the more we protect the herd and less you'll see deaths in elderly people and chronically ill. it's a dead virus, you cannot he get the flu from it. it works and i'll come back on show and give it to you from free. stuart: you're guilt tripping america. that's what the medical business does, you're guilt tripping people. >> no. stuart: yes, you are. >> giving you sound medical advice. this year, works 60% of the time the flu shot. stuart: 60% of the time, that's it? so i've got-- come on. i mean. >> probably more this year, probably more than 70 or 80. stuart: probably? what kind of-- come on. >> we won't know for sure until april, but listen, what else do you have? >> we won't know for sure until-- come on, doctor. >> stuart, this is your best
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defense against the flu. stuart: i haven't had flu in 40, 50 years. and would you-- >> the fact that you don't get the flu doesn't mean the guy next to you won't. stuart: i think i won. >> millions of peoples get flu. i'm the not saying mandate the flu shot. stuart: i've won. >> you've not won. it's a good idea for public health to have the flu shot. stuart: i've won, you lost, and now time for the gold report. thank you, doctor. where is the price of gold following the flu argument, 1710 an ounce, and more proof that the rich will flee if you tax the rich. and happening in france. he's leaving and headed to the tax haven belgium. for those pagan losers still
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paying half-- >> and help me out. i don't want a flu shot either. ♪ lso likes to ride her bike. she knows the potential for making or losing money can pop up anytime. that's why she trades with the leader in mobile trading. so she's always ready to take actn, no matter how wily... or weird... or wonderfully the market's behaving... which isn't rocket science. it's just common sense. from td ameritrade. but when i was in an accident... i was worried the health care system spoke a language all its own with unitedhealthcare, i got help that fit my life. so i never missed a beat. that's health in numbers. unitedhealthcare.
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>> oh, the millionaires tax is
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costing france one of its finest actors, gerard depardu is leaving france, where taxed at 75% rate and he's moving to belgium and the tax rate there is only 50%. i'm trying not to laugh, charles, go. charles: one report said up to 300,000 people may leave and only impacts up to 30,000, if you're next, drama unfolding, vowing to stop lawmakers to cast their votes, we're going to take you there live new at ten.
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dollar above 12,250, and here's tuesday morning company, charles payne is here. nicole petallides on the floor of the stock exchange. let's go to jeff flock on the thick of it at the statehouse in lansing, michigan. the latest please. jeff: they said it would be a big crowd and it is. this of course is the cradle of the labor movement in the u.s. the first place of the uaw and plenty of uaw folks and the unions represented. you will hear plenty of sides on this but i will give you the union side because that is where i am standing. they save right to work means essentially they come into a workplace, negotiate a bunch of benefits and work rules and salary and people who choose not to go to the union benefit from that and that is not fair. that is their argument.
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the governor, governor snider, who is not a crazy right winger but a moderate governor, he never had this on his agenda but when the labor unions put it on the agenda in the last election with a ballot measure, he said okay, you put this up for grabs, it was defeated, a measure to enshrine the concept of not being a right to work state. they tried to enshrine that failed miserably and the governor said you made this an issue now and we are going to make it an issue and we are going to support this bill. it seems clear to me this is going to pass today. he is not going to sign it today but despite what you are hearing out here is probably done deal. stuart: are they trying to block legislators from getting in? jeff: we see no evidence of that at this point.
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no evidence of it. people on this freedom path. no violence. stuart: we will stay with it. jeff flock in the middle of it. i want you to listen to what president obama said yesterday about this issue in michigan. >> we need to do everything we can to encourage companies to keep investing in american workers. by the way, what we shouldn't do, and what we shouldn't be doing is trying to take away your right to bargain. [applause] stuart: exactly what the president said. that it is a right to bargain for better wages. does the union also have a right to force people to adjoin a union and pay dues to it. joining us is the mayor of lansing, welcome to the program. i have got to ask, rights on both sides, does the union have
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the right to take money off of its members of those members don't want to pay to the union? >> the right is of individuals to form a union and as you might know, we're down to 17% union workforce in michigan. how you get to 17% is people make choices and those workplaces have voted and it has gone down over the years. it may be higher than other states and the majority rules. that is how democracy rules and the unions are the most democratic of institutions. the way it works -- stuart: when if i am a member of the union in michigan, if i don't want to pay dues to that union, i have got to join the union to get the job. why should i therefore have to pay money to that union? >> what is un-american is what you are suggesting, right to work. let me explain why it is
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un-american -- [talking over each other] >> nobody is denying the right to work. i'm trying to explain to you what you are saying is not democratic and un-american. this country is a democracy. majority rule. if the majority in a company vote to be in a union than that is what that is just like if you live in new york or l.a. and saying you are going to pay taxes in that city. you might not like the administration of government, you might not like -- you will pay city taxes or you can move out of the city. you can change the process and get involved in the same way -- stuart: i understand point. [talking over each other] stuart: voting to make michigan a right to work state. that is the democratic process. that is what is happening here. >> these people on lawfully legally expressing their opinion today. we have a mess on our hands. stuart: let me throw this that you. in the last ten years the employment level, the number of
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jobs in right to work states has gone up 10%. the employment level in non right to work states like michigan has gone 1%. don't you think there's something to be said for being right to work in terms of getting more jobs to your state? good jobs at a toyota or honda? >> there is no more pro-business mayor in the state or the country but i can tell you as you know as a business reporter there tweet types of lies, lies, damn lies and statistics. i didn't make that up but i can show you statistics the other way that taps 6 of the top ten states in unemployment, six of the leading top ten unemployment states are right to work states. there are numbers all over the map on this. we all know the so-called rust belt has had a tough time we are coming back end is not because of the union's. it is not because of right to work that has been a problem. the jobs of been shipped
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overseas. the unions helped create a middle class and that is the reality and the system has worked out. there is no reason to switch. stuart: i would suggest in michigan your system is broke. [talking over each other] stuart: toyota -- [talking over each other] stuart: why doesn't toyota moved to michigan? of the will tell you why. [talking over each othhr] stuart: why doesn't bmw, why don't they moved to michigan? wonderful jobs that pay high wages, good health benefits. they don't move to michigan because of the right to work rules in that state. i have one more. i talked to a lot of democrats on this program about the expression working families. i can never get anybody to tell me what is a working family and why i am not a working family?
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i have six children and seven grand children but i am not working family. tell me why. >> my view is if you go to work every day and you have to go to work to get a paycheck you don't -- this is my definition -- if you don't rely on interest income you have to go to work to make money and you are supporting a family than you are working family. stuart: the union is not supporting my working family. >> you don't have a union job. we should get the union in there right away. stuart: i have to ask one last question. do you think that apple would be the company that it is if it were unionized top to bottom? >> i think apple those acute debt of gratitude -- stuart: would it be the same company is today with the same products? >> you might make some products in this country. i understand they're moving production to this country -- [talking over each other] >> i am answering the question. i would love for apple to change
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and be a pro-american company and make products -- stuart: would they still make the same world-class world beating products at fabulous price if they were unionized top to bottom? >> not the last part because these companies are -- victimize people all of the world and pay them nothing. there's a reason workers in china jump out of buildings because of the working conditions. there are problems and the union address those problems and you conclude your rise to it that you're kidding yourself because there used to be child labor in this country. we have come a long way to the unions and they're still needed today and i invite you to come to michigan so i can show you the world class companies right here. stuart: apple would never moved to michigan -- [talking over each other] >> a thousand other companies that have chosen lansing, michigan. i dare you to come to michigan. stuart: i have been to michigan. i have seen it. stuart: apparently rise or close.
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stuart: they were not. blinded by -- [talking over each other] >> please come back. stuart: a pleasure, thanks very much. the judge is here. [talking over each other] judge napolitano: your patience and diligence in attempting to interrogate somebody who didn't want to answer your questions. stuart: what about this right. you heard what the mayor was saying. make your comment. judge napolitano: writes don't come from the constitution. the constitution does make congress shall grant freedom of speech but shall not interfere with freedom of speech. a right comes for marriage humanity. the constitution restrain the government from interfering with our rights. do we have a natural right to associate? we do and that right is protected in the constitution. do we have the right not to associate? we do and that right is protected in the constitution so if people want to form a labor union they are free to do so it has protected and given us
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aspect of our lives that we enjoy. 40 hour work week and weekends off but to require the employer to deal onll with the union and to force people who don't want to join the union to pay dues to it anyway, that is a destruction of their freedom and in the case of dues is theft and is perpetrated by the government. the mayor is unhappy because the state of michigan will no longer do that for labor unions. money from the worker and give it to the union when the worker doesn't want to join. stuart: you have been speaking about this on the fox news channel and fox business for a couple days. i understand you have a lot of e-mail response to what you have been saying from right to work states. judge napolitano: i am stunned that where you have a right to work without joining a union people are surprised to learn that in half of the state in the united states of america you either join that union or they will take the money from you and send it to the union.
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people right to work states can't believe this happened in the united states of america. dave: politicians are scared they will lose the gravy train for any years, that is what is scaring them. stuart: let's bring in our next guest because he does not want unions using his dues to push their political agenda. he is kerri bowman, union conservative, uaw member and autoworker. welcome to the program. >> always great to be with you. stuart: we have an argument between the mayor of lansing and myself and company members about what is right to work. he is saying essentially that we are denying workers the right to form a union. you are on the other side of the sense. what do you say? >> it is all propaganda because i listen to him try to like and michigan to the conditions of china and this is the propaganda we have been hearing from day one as union members and we know
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for shore all of that is total wise and incorrect. right to work represents giving workers a choice, the freedom of chalets to choose whether or not they want to form, julian or assist a labor organization or the right to refrain from any such activity. right to work was given to federal employees over 50 years ago by a democrat president john f. kennedy and that is all we're asking, to have the same rights as federal employees over 50 years. stuart: you are a uaw member. if you get right to work rules in michigan, does that not break the uaw in michigan? >> i don't think so. this law will go into effect april 1st, 2013. my contract does not expire until september of 2015. i wouldn't even be able to exercise my protections and rights under right to work until that time but i think as long as
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the union's reinvent themselves, embrace voluntary union and look at this as the free market issue, they can work harder to sell themselves, their product and services to union members and that is what they need to do in the first place. stuart: right there in lansing, mich. in the heart of it, thank you for joining us. thank you. >> always a pleasure to be with you. stuart: any last comments? dave: great point. judge napolitano: the unions are not accustomed to having to sell themselves. the unions are accustomed to giving money and votes to politicians who will force unions down the throats of those who don't want to join. dave: much michigan governor rick snyder is former ceo of gateway computers. he understands what makes jobs. he is not a professional politician. he is a professional businessman who became a politician. stuart: thank you. interesting discussion indeed. please take a look at this license plate.
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it is a pro-life tag from north carolina. but it was banned. it is a freedom of speech issue and the judge is still here.
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stuart: tell it looked like it is. a rally. dow jones industrial average is up 97 points, 13,256. we follow the tiny makkah
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nations of the fiscal cliff negotiations. the markets are up. apple has become a day trader's stock. on "varney and company" we never get into stuff like support levels. that is what is happening with apple right now. it is up $13 all over the place. limited brands paid the three dollar, one time dividend. this is the company -- paying a record penalty of $1.9 billion in a money-laundering case, failing to maintain effective anti money-laundering program. watch out, 90 seconds is all you got to wait for the judge back on a ruling on north carolina. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the hearof yr portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock.
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stuart: i have the share price of trip advisor up and i want to know why. nicole: jumping. this is not the news before the opening bell resuming trading and hit the circuit breaker and taken off and here it is with up arrows so the biggest shareholder liberty interactive making itself even bigger so moving ahead, gaining control, stock is up 9% and traded as high as $47 today but stepping in, buying barry diller shares in order to get 57% voting control. and ship advisers along after the expedia spinoff so this will be a big move and this is not a likely takeover, it is more about changing management.
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stuart: we got it. tripp adviser up. if you want more examples of union power get ready to this. chrysler workers who were fired for drinking beer and smoking pot on a lunch break this week got their jobs back, all of them. at 10:52 we are going to tell you how they got their jobs back. has to do with the union. north carolina wanted to offer these license plates you see on screen, choose life. a judge ruled they are unconstitutional because the state didn't offer plates with opposing viewpoints. all rise. the judge is here. north carolina says choose life and the judge says you can't do that, got have opposing points of view so north carolina says what? judge napolitano: north carolina is not joined by the license plate because they did not offer an opposing view. is a complex area of speech. when you see a phrase like choose life, fight cancer, love
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the jersey shore on a license plate, the government speaking or driver of the car speaking? if it is the driver of the car speaking on the government issued license plate which you have to have in order to drive than the courts have ruled government has to make available other license plates for those who want to express their viewpoint that disagree with this one. government got in the business of collecting money, charging $25 a plate for your favorite phrase. then the government said we like some phrases and don't like other phrases. you can only choose from among the phrases we like. that is what the first amendment prohibits. restricting the phrases. the government could say nothing on the license plate but the state and your license plate but once they get in the business of accepting money from people for phrases on the plates they have to make a variety of raises available. stuart: didn't north carolina
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reject six alternate licence plates expressing the alternate point? judge napolitano: the judge's opinion before coming on the show animated this judge ward in validating choose life, six different efforts to place non pro-life messages, some harshly -- [talking over each other] judge napolitano: all were rejected by the same legislature that authorized. stuart: in my opinion the judge is backing up free speech because he is stopping north carolina monopolizing a point of view. judge napolitano: exactly what this judge would say and exactly what the opinions stand for. what i would say is government shouldn't be in the business of selling space for speech. if you want to put a bumper sticker that says i am pro-life or a bumper sticker that says i am pro-choice you put whatever bumper sticker you want on the car. not on the fleet. stuart: what about live free or die, my favorite? judge napolitano: that is an interesting case because they're
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the supreme court held a person could not deface, could not remove live free or die. if you live in new hampshire and drive a car in new hampshire in your license plate says live free or die and you don't buy the implications of that you cannot -- [talking over each other] dave: choose life is more neutral a statement that live free or die. judge napolitano: this is the type of value judgments judges should not be making, that individuals should be making. there i agree with you. have to embrace live free or die. i happen to embrace choose life but that is just me. i also embrace the idea of letting people express themselves and they see fit and the governments saying out of the business of making -- dave: the supreme court has spoken with regard to live free or die. judge napolitano: yes it did, 30 years ago but that case says you can't deface relations plan for political or other reasons. stuart: amazing the stuff we get
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into on "varney and company". we do actually live free and buy or die. [talking over each other] stuart: that was very good. thank you very much. are you going to be a right in candidate as a libertarian candidate? judge napolitano: undoubtedly not. judge napolitano: can are reviewing? stuart: raise taxes on the richer they will end up leaving. my take on gerard depardieu is next. tdd#: 1-800-345-2550 this morning, i'm going to trade in hong kong.
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>> the more people get vaccinated more we protect the herd and more see deaths in elderly chronicle and chronically ill people the, get your flu shot. you cannot get the flu from a. works. i will come back and give it to you for free. stuart: dr. mark siegel in the last hour urging me to get a flu shot. you got fired up over that conversation. here's what you're saying on our facebook page. lynne says probably and we will see in april, is he the nancy pelosi -- oh oh oh man. is he the nancy pelosi of madison? we all have the shot and wait till april to see if it worked. passing the bill in order to -- julie says this. you are wrong.
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i have chronic bronchitis and asthma. influenza is a respiratory illness. if i get it it will probably kill me. i don't understand your adamant disagreement about getting a flu shot. sylvan disagrees with me as well. think of others. get a flu shot. it is not all about you and your health. oh yes it is. i am sorry. i take your comments seriously. follow us on facebook. excellent conversation all day long. we have been in the christmas spirit for a while on "varney and company". playing holiday music all month. even though dozens of new christmas albums are made every year, classic christmas songs, the most popular. find out why at 10:45. it whenever heard of the small town of machine? is in belgium. i am sure you have heard of gerard depardieu, the french actor, he is moving there.
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he's leaving france. here is my take on why he is moving. taxes. france's socialist government has enclosed a 70% have than anyone earning 1 billion euros a year. he may or may not be a socialist but when push comes to shove he doesn't like a 75% tax rate. he is going to establish residence one, inside belgium. he will only be a stone's throw from france but paying the top rate of 50%, not 75%. this is another example of wealthy people avoiding confiscation. it happened in britain, maryland and california. 2 points are made here, practical and moral. first practical. doesn't work. you might think tax the rich is popular politically but practically it does not bring in the money you think it is going to bring in. second the moral question. is it right for the government to take more than half of anyone's income? i think not. the socialists believe it is all our money.
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the refugee from that legalized theft, one last point. why doesn't he gerard depardieu come to new york or hollywood? that is easy. president obama wants to do his part in taxing the rich and will raise the top state and federal rate to 50% in new york and california. belgium is now more attractive than america. got to shake your head at that. ♪
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stuart: michigan will become a right to work states today and jeff flock is right in the middle of all the union protests that are going on right now. you are indeed in the middle of it. jeff: perhaps you hear the chants of kill the bill. i don't know that it is going to be possible to kill this bill unlike was in wisconsin when they had a shot from a legislator's to try to scuttle it. i don't think this is possible because already passed. what do you folks hope to accomplish today? >> voices heard. this fight is just beginning. the voice has got to be heard. jeff: what does that mean? what do you do next? >> we have to keep going. snyder told us this wasn't on the table and he lied to us.
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we got to get back at him. jeff: the governor said -- >> proposition 2 [talking over each other] jeff: he wasn't going to take this up but when proposition 2 came out that brought it to the 4. >> we supported proposition 2, we mobilize, we were agile about it and we are being retaliated against by our own capital. jeff: he would point out you lost that fight. >> was brought to people for a vote and this wasn't. we have a right -- michigan people have a right to vote whether they want this or not. jeff: this is an appropriation bill, that means they cannot put it up to a vote to the fact is they can't bring it up to a vote if it passes today. stuart: you are right in the middle of it. excellent report. thank you very much. we will stay with this because it is not going away. i have been saying that for a
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while on "varney and company". a single family home in a good neighborhood is probably the best investment you can make right now. going out on a limb but that is my opinion. my next guest is investing in commercial real-estate and he is buying. richard. , a maine will your name once again. >> everybody will know right now. stuart: the ceo of the tritium group. >> close enough. stuart: i will get it right eventually. stuart: when you invest in commercial property. you are buying right now. you are like the arizona market in particular, you specialize in apartment buildings. tell me why you are concentrating on buying in scottsdale. >> i like scottsdale lot. the air park idea will explode in the next five years. is very important to be positioned there and i'd buy the
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properties. it is not the best property in the market but it is the one where upper working class can be. stuart: apartment buildings. what is the ideal size for you as an investor? >> minimum 150. stuart: that is what you like to -- okay. scottsdale is your particular market that you like in particular. >> one of my favorite. stuart: david asman was asking if they have water. >> they do except when it is not raining so much. stuart: charles payne says? charles: michigan is talk in detroit. if i am thinking deep discount lot of people are rushing to downtown detroit. [talking over each other] stuart: how many apartment buildings of 150 units are for sale in detroit? charles: i would think a lot. >> i m not -- [talking over each other] charles: that is not -- [talking over each other]
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dave: how much of the single apartments going for now? >> anywhere from $85,000 to $110,000. stuart: that is what you're buying at in scottsdale. what is your upside potential? what is your target? >> i am comfortable making a low teens but i can make high teens. stuart: courier? courier? >> yes. stuart: not bad. charles: are you worried the mentality may shift in this country where people once again say i don't want to rent, i want to own because it is so much, so expensive to rent and so many parts of the country -- >> it is. i always maintain any property i have is the best one in its market class in that area. even when you take a downturn my properties have always stayed 95% unoccupied and that is important. people forget that one aspect. stuart: you like scottsdale. you like tempe. >> if you have got a lot of
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business there it is more stable market than downtown. stuart: i know candor is your third market in arizona. you keep coming back to arizona. why arizona? >> i ended up there eight years ago and watched it take a big debt. a lot of opportunity comment and when everything took a dive in 2008, i had enough cash. stuart: now is the time to buy because anybody sitting on any profit wants to sell now. >> capital gains. stuart: going up next year. is that factored into your low return? >> no. "imus in the morning" it is not. >> i would rather. stuart: why not? you down the capital gains tax rates going up? >> i know they're going up but i am taking a advantage of them, people want to get out now and it opened up doors for me. stuart: arizona is your market of choice as of this moment you are buying. large apartment units, 150 to
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400 units. eighty-five thousand dollars each and you expect it to go up to $150,000 per year before you sell. all right. richard. of the tritium group. i got it right. thank you. thank you very much. listen to this song. i will be home for christmas by frank sinatra. after all these years classic christmas songs like this one are still the most popular. why is that? why do people like the modern stuff? why go back 40 or 50 years? i have an answer for you and it will be next. copd makes it hard to breathe,
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or high blood pressure before taking advair. if you're still having difficulty breathing, ask your doctor if including advair could help improve your lung function. get your first full prescription free and save on refills at advaircopd.com. stuart: i will calling a very solid market rally, the dow industrials up 107 points. look at the price of gold down slightly, $1,700 an ounce, gold coins this holiday season. sales of 131% in november compared to last year. it is up today.
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it is coming 250 jobs, stocks are up. dollar general down today, cautious outlook for the holiday season. everything sells for $10. walmart focusing on lower-priced items hurting dollar general. back in 90 seconds to talk about christmas music. which the preferred? the old classics that you know or newer versions by today's pop stars?
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stuart: i have to deal with delta. stock is up and you got to tell
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me why. nicole: 49% stake in virgin atlantic so the stock is higher and it is a winner year to date, a stake of $360 million and we all know the head of virgin atlantic and here's what is going on, stock is up $0.40. this is a winner. lee westwood christmas music dr.? stuart: tell me your favorite? nicole: i like the old songs the best and my favorite is winter wonderland and my second favorite is i will be home for christmas. stuart: very good. thank you for keeping it short. we are going to talk about christmas music. the dow is up 107 points and all very festive. a good part of the holidays is the music but no matter how many new christmas album is get released we all seem to go back to the classics. joining us now the music director of w p l i radio. welcome to the program. >> appreciate it it.
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stuart: will play a riff of crosby. [talking over each other] stuart: a couple of bars. bing crosby, white christmas. listen to this. is this good? don't you like this? hold on now. now, why is that so popular? i love it. why is it so popular? >> it is familiar with people that are listening. people want to be feeling warm and fuzzy and living around holidays they don't want to hear about justin beaver talking and not kissing a girl underneath the mistletoe or -- it is familiar, classic and a staple and for music that is played one month out of the year why go new and fresh and hip? stuart: when you are the music director so you decide which music goes on your station. >> we don't play christmas music i want to be clear about. we don't do the christmas music thing. it is something to be out there for certain stations to do.
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we don't stick to the christmas music -- we play a few hits here and there but we don't do the 24/7 thing. stuart: that is what people want. if you were to do christmas holiday music -- >> you get tired of christmas music after week. stuart: yes. i just want to play a little bit of this is michael jackson screeching about santa claus coming to town. can we play a couple? ♪ stuart: the man has passed away but that is really tough to listen to. >> it is and the problem -- stuart: when you agree with me. >> i do and the problem with newer artists coming out with newer songs it it takes so much to write and record and a lot of new artists won't spend the time and money and effort to do it when it is one month out of the
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year. in that case as much as i don't want to speak badly of michael jackson, that is pretty terrible. charles: every year we see a lot -- -- [talking over each other] charles: almost every year a bunch of the come out. what put them out? >> they're trying to create something that can't be created and it is the wrong artists doing it. if you have someone like a dell or bruno mars, that could work and i also think just writing one song isn't enough, you have to do christmas album and i don't think artists have the time, effort or money. stuart: they come out with these new christmas song every year because it is a guaranteed way. not on your station. if you get a hit is played year after year after year in a money machine. >> very hard to have a hit. the real new christmas hit as mariah carey's all i want for christmas. and they tried to do it but didn't work by justin beaver couple years ago --
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stuart: to my daughter's 20 years old and probably listens to the music you put on all the time. her favorite song in the world is now at king cole's merry christmas. stuart: when can we have a few bars? dave: that is her favorite song. i put it to you a lot of 20-year-olds like this music. stuart: this is a sound bite from asking coal. what is your personal favorite of all the christmas movies you ever heard in your life? >> john lennon, happy christmas, the war is over. stuart: there is something modern that i can get behind. >> funny thing about that song is like and listen to that year round and still sing-along to and love it just as much. stuart: when you are all right. >> i try. stuart: that is very good. pity you don't play christmas music very much the >> we don't do 20 hours a day 7 days a week. we sprinkle in christmas hits here and there but don't overdo it. stuart: i'm going to be >> thank you. [talking over each other] >> it is a promise. stuart: what do i have to do?
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[talking over each other] >> you got to -- [talking over each other] stuart: that is going to be on the highlight reel. that was very good. you may or may not be back. thanks very much. if you were caught drinking beer, smoking pot on the job you would very likely be fired on the spot and you can bet you would never get your job back. not if you are in a union. we will deal with that story next. [ male announcer ] this is amy. amy likes to invest in the market.
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stuart: "varney and company" brought you two years ago chrysler factory workers caught in camera by a fox affiliate in detroit leaving work on lunch break going to a parka and drinking and smoking pot and going back to work. 13 have been fired and they all got their jobs back. the union fought for the men they have been rehired. dave: the judge said they were on their own time. may have been on the run time they come back to work stoned. they are in danger in their own life but more important the lives of others. stuart: unions. charles: if the unions want to self lasalle this is how they sell. people have been out of work for
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years for personal infractions against the law and got their jobs because they were in a union. the problem is there is no upward mobility. the same people complain about working at verizon. 20 years, 30 years doing the same job they were doing. you can have a d u y and come out and get your job back but it would be the same job 30 years ago. stuart: rob will check broke the detroit story fair and i have a question. do these guys get back pay? don't know if we can find that out or not. dave: rick snyder will be on at 4:00 right here. stuart: richard snyder, your show this afternoon, 4:00, very good. the highlight reel is next. stay right there. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the world you'll find the extraordinarily comfortable sleep number experience. an exclusive collection of innovations that totally individualize your sleep. perfectly comfortable pillows that adjust to
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stuart: the highlight reel is ready. roll it, please. >> there will be a big fight today in michigan. it has gone up 1%.
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>> i can show you statistics the other way. stuart: there is something to be said about getting more jobs to your state's. >> what these people are doing is lawfully, legally expressing their opinion. this is my definition. if you do not just rely on interest income or whatever, you have to go to work to make money. stuart: in which case, the union is not supporting my working family. >> we should get the unions in there right away. stuart: we could go on with that story for a long time. i want to put a picture on the air for you. this is charles payne's wife. i want everybody to hear this. coming from charles. an update on his wife who two months ago had a heart transplant. charles: i have to say, the viewers haven

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